Rowan Companies PLC (RDC) is Reiterated by RBC Capital Mkts to Sector Perform, Raises Price Target to $ 20

Rowan Companies PLC (RDC) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 20 from a previous price target of $15 . RBC Capital Mkts advised their investors in a research report released on Apr 22, 2016.

Many Wall Street Analysts have commented on Rowan Companies PLC. Rowan Companies PLC was Initiated by Nomura to “Neutral” on Apr 8, 2016. Company shares were Upgraded by Seaport Global Securities on Mar 14, 2016 to ” Buy”, Firm has raised the Price Target to $ 19 from a previous price target of $12 .Shares were Reiterated by FBR Capital on Feb 29, 2016 to “Outperform” and Lowered the Price Target to $ 25 from a previous price target of $30 .

On the company’s financial health, Rowan Companies PLC reported $0.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Feb 26, 2016. Analyst had a consensus of $0.75. The company had revenue of $535.80 million for the quarter, compared to analysts expectations of $529.32 million. The company’s revenue was down -3.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.89 EPS.

Rowan Companies PLC closed down -0.12 points or -0.71% at $16.88 with 40,82,548 shares getting traded on Wednesday. Post opening the session at $17.05, the shares hit an intraday low of $16.71 and an intraday high of $17.24 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 20, 2015, Tore I Sandvold (director) purchased 5,000 shares at $22.29 per share price.

Rowan Companies plc (Rowan) is a provider of international and domestic offshore oil and gas contract drilling services. Its operation broadly consists of Drilling Fleet and Contracts. It has a fleet of 30 self-elevating mobile offshore jack-up drilling units and four ultra-deepwater drillships. It conducts offshore drilling operations in the United States Gulf of Mexico (US GOM) the United Kingdom (UK) and Norwegian sectors of the North Sea the Middle East West and North Africa Southeast Asia and Trinidad. The Company’s jack-ups are capable of drilling wells to depths ranging from 25000 to 40000 feet and in water depths ranging from 250 to 550 feet. Its ultra-deepwater drillships are capable of drilling wells to depths of 40000 feet and in water depths of 12000 feet. The Company’s drilling contracts provide for a fixed amount of compensation per day and are either well-to-well multiple-well or fixed-term generally ranging from one month to several years.

Rowan Companies PLC

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